Sean,
I'll be the devil's advocate. I'm not in favor. The reason is that from the implementer's point of view, it would be ambigious what you want to do with the association:
1. Place it in a different position in the same class to make way for another association? This is the current behavior, or...
2. Associate it with another class.
Hmm.
In order to disambiguate, perhaps adding a CTRL+something to let EA know that we want to move to another class. Let's assume EA supports this feature. We move it then to the other class.
Now, it's in the other class. What are the attributes of the association in terms of: role, visibility, multiplicity, navigability...
Then, it seems to me it is simpler at this point to just get rid of the association and create another one :-)
Given the fact that it'll probably take you a minute or two to delete-then-recreate, and that it's not a common task, I vote no.
Regards,
Javier